Oct 17, 2013
By Jane Brown
Prince Charles is warning of a “miserable future” for coming generations if pension fund managers continue with short-term thinking. In a pre-recorded speech delivered last night, the future King said the current system of investing pensions with an eye toward quarterly profits will not work for Britain’s aging population.
Prince Charles said the short-term focus is not adequate, given pension liabilities stretching out many decades. He said investors should develop a sustainable financial system that would protect pensioners in the face of rising levels of debt and a fast-growing population.
The speech marked a rare foray into the world of high finance for Charles, who is prohibited from becoming directly involved in political matters.